Senior Associate, Economic Capital Modeling Bermuda - Capital Reporting

Fortitude Reinsurance Company Ltd. (Fortitude Re) is a leading provider of legacy reinsurance solutions.

Job Overview

Senior Associate, Economic Capital Modeling will be a member of the Capital Management team, reporting to the VP, Capital Management & Chief Actuary FIRL. Main duties include capital reporting, stress testing, economic capital analysis, and supporting regulatory filings to the Bermuda Monetary Authority.

Responsibilities

• Perform movement analysis to monitor and explain changes in the company’s capital position.
• Provide monthly estimates of regulatory capital based on market conditions and business profile changes.
• Conduct regular internal stress testing to evaluate the capital at risk against key risk factors and CISSA/GSSA scenario testing as part of the regulatory filing process to the BMA.
• Review quarterly economic reserves produced by the actuarial modeling team.
• Support the quarterly regulatory filings to the BMA as needed.
• Support the production, governance and control framework of the company’s ALM and capital model.
• Develop new functionalities and enhancements to the capital model as necessary, including improved efficiencies and changes to the regulations and onboarding of new business.
• Support new business activities by evaluating capital requirements for potential acquisitions and reinsurance blocks.
• Provide ad hoc capital analysis and financial projections to support strategic initiatives as necessary.
• Minimal travel is expected (0%-10%).

Qualifications

• Qualified Associate of the Society of Actuaries or equivalent designation.
• 5+ years of insurance experience related to pricing, valuation or risk management, with EBS or Solvency II experience required.
• Proficiency in Python, or similar programming languages (R Studio, C++).
• Experience with database applications and business intelligence tools.
• Experience with AXIS or similar actuarial projection or valuation software.
• Strong analytical skills and ability to adopt a creative approach to solving complex process problems.
• Ability to manage multiple work assignments and meet time commitments.
• Strong oral and written communication skills.

Compensation

Base Salary Range: $145,000 — $180,000 USD. Annual bonus and benefits also offered.

Equal Opportunity Employer

We are committed to being an equal opportunity employer and evaluate qualified applicants without regard to race, color, religion, sex, pregnancy (including childbirth, lactation and related medical conditions), national origin, age, physical and mental disability, marital status, sexual orientation, gender identity, gender expression, genetic information (including characteristics and testing), military and veteran status, diversity of thought and any other characteristic protected by applicable law.